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As a result, a fund with just £1m of funds under management has the same weight as a fund with £1 billion.
Once a fund with an appropriate target date is chosen, investment professionals take charge.
Soon, customers could choose a fund with a strategy or even a particular sector in mind.
"For a fund with momentum in its favour right now, opt for Standard Life UK Opportunities".
A fund with 100 holdings might have over half of its assets concentrated in five or six stocks.
And to start a fund with $200 million of your own money is already a heck of an edge".
"Why would I trust a fund with my money if they won't trust me with information?" Mr. Kuwana says.
ESL Investments, the firm run by hotshot manager Eddie Lampert, has set up a fund with a five-year lock-up.
Throughout this time he has continued to buy what many other investors have been discarding – exactly as I would expect from a fund with a recovery-style approach.
Over decades, the difference between owning a fund with a top-tier total return and a middling one can add up to a hefty sum.
Under this scheme, debts exceeding 60% of GDP would be transferred into a fund with joint liability and paid off by the debtor countries over 20-25 years. 20-25 years
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com